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State-Run Exchanges See High Re-Enrollment

July 31st, 2015

Some state-run exchanges may require consumers to actively re-enroll in health coverage, but that hasn’t hurt their numbers, a new study shows. Researchers at Georgetown University with funding from the Robert Wood Johnson Foundation compared 2014 and 2015 enrollment data from six-state run exchanges. Using information from enrollment data and live interviews, their findings overwhelmingly [...]

How Industry Jargon Hurts Life Insurance Sales

life insurance 2
July 30th, 2015

Ever use industry jargon while pitching life insurance? You may have ruined your chance at making the sale, a new LIMRA study reveals. The financial services company set out to find out why an estimated 18.7 million people say they value life insurance, but never purchase a policy. Their number one suspect? Ineffective communication. “The [...]

Centene to Buy Medicare Advantage Plans from Rivals?

July 29th, 2015

Centene Corp. may be in the market for Medicare Advantage plans. The health insurer, which reported better-than-expected quarterly profits, says it would consider buying the Medicare Advantage plans that its competitors will likely sell during industry consolidations. Before regulatory authorities approve the Anthem-Cigna and Aetna-Humana deals, the companies may need to sell off some of [...]

UnitedHealth and Oscar to Join Covered California

California Health Insurance
July 28th, 2015

Some California residents will have a few more options on the state-based health exchange next year. Covered California exchange managers will allow a unit of UnitedHealth Group Inc. to compete in five of the lower-population pricing regions in 2016. Managers have also given Oscar, the New York health insurance start up, the chance to sell [...]

Anthem Buys Cigna in $54.2 Billion Deal

July 27th, 2015

Anthem and Cigna have finally come to an agreement. Anthem will buy Cigna for $48 billion, the former announced Friday. If the deal clears regulatory hurdles, it will create the largest health insurer by enrollment, with about 53 million members. The deal is valued at $54.2 billion including debt. Cigna shareholders will receive $103.40 per share [...]

Anthem Closes in on Cigna Deal, Insiders Say

acquisition deal
July 23rd, 2015

After almost a year of negotiations, Anthem is closing in on an agreement to buy Cigna for $48 billion, insiders told Bloomberg. If the deal goes through, it would create the largest health insurance carrier in the country. Anthem offered to pay $187 a share for Cigna, sources said. That’s up from the company’s previous [...]

6.6 Million Taxpayers Hit with PPACA Penalty

tax penalty
July 21st, 2015

About 6.6 million tax payers were slapped with the health insurance tax penalty for 2014—roughly 10% more than previous estimates. The Treasury Department predicted as many as 6 million taxpayers would face a fine back in January. The average penalty was $190, according to the National Taxpayer Advocate, the in-house watchdog of the IRS. However, [...]

Understanding California’s New Rideshare Insurance Law

July 20th, 2015

Ridesharing just got a little more complicated in California. A new law that requires rideshare drivers and companies to have liability car insurance during all three periods in which they use the application went into effect on July 1, 2015. The California Legislature signed Assembly Bill 2293 (Bonilla) into law in September 2014. California ride-share [...]

New Medigap Enrollment Up 23%, Gen Re Survey Shows

July 17th, 2015

Independent agents helped Medicare supplement issuers boost sales and in-force revenue between 2013 and 20014, a Gen Re survey revealed. Participating issuers reported that the number of people new policies covered rose 23% during that time frame. The reinsurer found 80 Medigap insurers in the market in 2014, up from 72 in 2013. The number of [...]

State Farm to Sell Car Insurance Customer Data?

July 16th, 2015

In what could be a game changer for the car insurance industry, State Farm has developed plans to sell customer data, Nerd Wallet reported. This would allow advertisers to create highly targeted ads based on where, when and how people drive. State Farm filed an application with the U.S. Patent and Trademark Office, which, if [...]